The risk of disrupted insurance and derivatives contracts for customers is "material" unless Britain and the European Union take joint action ahead of Brexit, the Bank of England said on Friday. Britain has made progress towards mitigating risks of disruption to financial services after it leaves the bloc next March, the BoE's Financial Policy Committee (FPC) said in a statement about its March 12 meeting. "Nonetheless, material risks remain, particularly in areas where actions would be needed by both the UK and EU authorities," the FPC said.

Britain's reliance on the "kindness of strangers" to finance its large current account deficit appears to be increasing, the Bank of England said on Friday. The central bank's Financial Policy Committee (FPC) also said it saw signs that risk appetite in Britain's mortgage market was rising as more loans are granted close to the BoE's loan-to-income ratio ceiling of 4.5.

A U.S. judge on Thursday dismissed a lawsuit against 16 big banks by retail foreign currency investors who claimed they were indirectly harmed by a conspiracy to rig prices. U.S. District Judge Lorna Schofield in Manhattan said the investors failed to show they had legal standing to pursue antitrust claims, or that the banks' alleged conspiracy in the $5.1-trillion-a-day currency market was the proximate cause of their losses. The plaintiffs claimed they were injured by having bought currencies from dealers that did not rig prices, but which passed on the costs of the conspiracy.

HSBC, the UK’s largest bank, said today that it also has the largest gender pay gap among large banks. Women are paid a staggering 59% less than men, on average, according to the difference in hourly pay in 2017. The figures are for HSBC Bank, the group’s biggest UK entity, which employs more than 23,500…

HSBC (HSBA.L) will reveal a gender pay gap of 59 percent at its main UK banking operation, the biggest yet disclosed by a British bank, according to a copy of the lender's report on the subject seen by Reuters on Thursday ahead of its publication. The bank will also disclose a mean gender bonus gap of 86 percent at HSBC Bank Plc, which is the biggest of the lender's seven entities in Britain and employs 23,507 people. The gender pay gap is the biggest yet reported by a British financial firm, according to government data, with some firms yet to provide figures ahead of an April deadline set by Prime Minister Theresa May last year.

March 15 (Reuters) - Ten Lifestyle Group Plc: * TEN WINS FIRST CONTRACT WITH HSBC * SIGNED A SIGNIFICANT CONTRACT WITH HSBC GROUP TO PROVIDE CONCIERGE SERVICES TO ONE OF GROUP'S EXCLUSIVE WEALTH PROPOSITIONS​ ...

After a decade of deep cuts to rein in a division that nearly bankrupted its parent, Royal Bank of Scotland's (RBS.L) investment bank is attracting new business once again, according to executives and a review of industry data. The investment banking division, NatWest Markets, helped propel RBS's meteoric rise from a small Scottish lender to a behemoth with assets outstripping British GDP in 2008, almost derailing the economy when it emerged much of them were toxic. The investment bank is beefing up financing, the smallest of its three business areas, with one focus being rebuilding relationships with financial customers like banks or insurers that were lost when the bank yanked teams from a host of geographies.

Fitness instructor Ed Lumsden was trying to log in to his online bank account last week when he discovered HSBC (HSBA.L) had closed it without warning. Lumsden, who counts British television presenter Davina McCall among the clients of his gym, TWPT, in the affluent spa town of Tunbridge Wells in Southern England, was unable to receive payments or pay his bills. Many of those affected run small businesses like Lumsden, who has 6 members of staff.

Fitness instructor Ed Lumsden was trying to log in to his online bank account last week when he discovered HSBC had closed it without warning. Lumsden, who counts British television presenter Davina McCall among the clients of his gym, TWPT, in the affluent spa town of Tunbridge Wells in Southern England, was unable to receive payments or pay his bills. Many of those affected run small businesses like Lumsden, who has 6 members of staff.

HSBC will launch a new app that centralises information about customers’ accounts — even those held with rival lenders — as early as next month, becoming the first major UK bank to take advantage of new ...

Moody's Investors Service has today taken rating actions on 17 Turkish banks. The long-term ratings of 14 banks were downgraded whilst the rating of 3 other banks were affirmed. The outlook on 12 banks ...

The five banks that settle every transaction in London's $6.8 trillion (4.9 trillion pounds) a year gold market are changing the rules of their clearing house to make it easier for newcomers to join. As that pressure increased, the number of banks clearing gold transactions through a company they own called the London Precious Metals Clearing Limited (LPMCL) has dwindled from seven to five. ICBC Standard joined in 2016 after months of wrangling over conditions and an application from at least one other, Goldman Sachs (GS.N), was declined, sources in LPMCL member banks said.

LONDON (Reuters) - The European Union plans to offer British-based financial services companies only limited access to the Single Market after Brexit, according to a draft document quoted by Bloomberg. ...

The European Union plans to offer British-based financial services companies only limited access to the Single Market after Brexit, according to a draft document quoted by Bloomberg. The EU would start working towards an arrangement for Britain that was similar to its trade deal with Canada, the draft guidelines said, according to Bloomberg. The proposals would leave London's vast financial services, including banks, funds and insurers with limited ability to sell many of their services to European companies.

The EU has forcefully rebuffed Theresa May’s vision for trade after Brexit , warning of the “negative economic consequences” of the British prime minister’s choices. Donald Tusk, the European Council president, ...

The following financial services industry appointments were announced on Tuesday. To inform us of other job changes, email moves@thomsonreuters.com. WILLIS TOWERS WATSON PLC The advisory and broking firm ...

(Adds Adams Street, Bank of Montreal) March 6 (Reuters) - The following financial services industry appointments were announced on Tuesday. To inform us of other job changes, email moves@thomsonreuters.com. ...

British Prime Minister Theresa May said on Monday that she wanted financial services to be part of a deal on the country's new relationship with the European Union after Brexit, echoing comments she made in a speech last week. "One of the elements that we will be looking at as part of our future economic partnership with the European Union is a partnership on financial services," May said in a response to a question after giving a speech on housing. EU officials have said May's approach amounts 'cherry picking' the best bits of the EU's single market.

British Prime Minister Theresa May said on Monday that she wanted financial services to be part of a deal on the country's new relationship with the European Union after Brexit, echoing comments she made in a speech last week. "One of the elements that we will be looking at as part of our future economic partnership with the European Union is a partnership on financial services," May said in a response to a question after giving a speech on housing.

Oki Ramadhana, who heads Morgan Stanley’s Indonesian operations, will be leaving to join HSBC Holdings Plc in a senior investment banking role in the country, according to people with knowledge of the ...